‘Ocean Eleven’ director Steven Soderbergh has granted around $300,000 to blockchain film financing platform
The film industry follows along with the content creation towards decentralization. The Crypto and blockchain space have seen the emergence of platforms that are solely focused on content creators to give them more access and authority over both their content and earned capital. Now is the time for Crypto powered films that would be based on the blockchain network platform.
Decentralization Pictures is such a platform working towards creating a fund to invest in Crypto powered films. The blockchain film financing platform has recently received funding of around $300,000 from famous Oscar-winning director Steven Soderbergh.
As per the reports, the production company of Soderbergh, Extension 765, has organized the Andrews/Bernard Awards on the platform of Decentralized Pictures. Regarding the launch of the awards show, the production company has offered the capital into the funds that would support filmmakers to create English language feature films or short films using the finishing funds.
Steven Soderbergh said that it’s an experiment for him as he has done many things. He further added that he is very much interested in witnessing the blockchain film financing really work, and he also said that he wants to be in this blockchain approach or structure grill to see if it does so as it is supposed to.
The director has one of the successful careers in the industry where he has given some great blockbusters kike Magic mike and Ocean’s Eleven Franchise. On top of that, he has received an Oscar award for his films Erin Brockovich and ‘Traffic’, which show the director’s range of cinema and cinematic experiences and experiments.
A film in 2017 named ‘Logan Lucky’ was funded through pre-selling of foreign distribution rights for financing the film’s production. To finance prints and advertising of the film, it took ‘everything except the movie showing up in a theater. The director has also made a thriller movie in 2018 titled ‘Unsane’, which followed a similar funding model and was completely shot in iPhone cameras.
Soderbergh said in an interview appreciating the approach of funding that it would allow complete transparency as there’s no intermediary and the money is not passing through multiple or any other person’s hands. Those who work for scaling up the film can go online just by putting password credentials and looking at the account as money from the theatres is delivered.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.